TORONTO, Feb. 21, 2012 /PRNewswire/ - Eagleford Energy
Inc. (OTCBB "EFRDF") ("Eagleford Energy" or the "Company"),
announces that the Company's wholly owned subsidiary, Dyami
Energy LLC has commenced drilling the Murphy/Dyami #3, on its Murphy Lease
comprising 2,637 acres of land in Zavala
County, Texas. This marks the third well drilled on the
lease with the previous two wells encountering the Eagle Ford shale
formation at expected target depth. Data from the previous two
wells drilled indicates that the Murphy Lease sits atop Serpentine
plugs with multi-stacked formations such as the Escondido, Olmos,
San Miguel, Anacacho, Austin Chalk, Eagle Ford shale, Buda and the Georgetown formations prospective to host
hydrocarbons.
A. L. "Buddy"
Dawsey, of Dawsey Operating LLC., a Texas based operating company drilling the
Murphy well for the Company,
stated, "We have several stacked targets on the Murphy lease. Total organic content,
permeability and porosity from the previous two wells drilled
indicate that the Eagle Ford formation on the Murphy Lease held by
Dyami Energy has the petro-physical attributes of commercially
productive wells in the oil window of this play."
The Company's Murphy Lease is situated in
northeast Zavala County, Texas,
and is part of the Maverick Basin of Southwest Texas, downdip from the United
States Geological Studies north boundary of the
Smackover-Austin-Eagle Ford total petroleum system. This area is
often referred to as the "oil window" of the present Eagle Ford
shale play and data derived from cores of the two prior
Murphy wells demonstrates this
lease to be in this oil window.
About Eagleford Energy Inc.
Eagleford Energy Inc. is a growth orientated oil
and gas company with a focus on growing hydrocarbon reserves, cash
flow, and net asset value per share through exploration and
production of mineral properties in South
Texas. There are approximately 44.7 million shares issued
and outstanding in the capital of the Company.
Certain information regarding the Company in
this news release may constitute forward-looking statements under
applicable securities laws. The forward-looking information
includes, without limitation, projections or estimates made by us
and our management in connection with our business
operations. Various assumptions were used in drawing the
conclusions or making the forecasts and projections contained in
the forward-looking information contained in this press release,
which assumptions are based on management analysis of historical
trends, experience, current conditions and expected future
developments pertaining to the Company and the industry in which it
operates as well as certain assumptions as specifically outlined in
the release above. Forward-looking information is based on
current expectations, estimates and projections that involve a
number of risks, which could cause actual results to vary and in
some instances to differ materially from those anticipated by the
Company and described in the forward-looking information contained
in this press release. Undue reliance should not be placed on
forward-looking information, which is not a guarantee of
performance and is subject to a number of risks or
uncertainties. Readers are cautioned that the foregoing list
of risk factors is not exhaustive. Forward-looking
information is based on the estimates and opinions of the Company's
management at the time the information is released and the Company
disclaims any intent or obligation to update publicly any such
forward-looking information, whether as a result of new
information, future events or otherwise, other than as expressly
required by applicable securities laws.
SOURCE Eagleford Energy Inc.
